URBAN ONE, INC. (UONE): M&A transaction — Urban One completes sale of MGM National Harbor interest for $136.8M

URBAN ONE, INC.

Closed sale of 100% interest in MGM National Harbor, LLC to MGMNH on April 21, 2023.
Received approximately $136.8 million at settlement plus $8.7 million annual distribution for FY2022.
Sale pursuant to put notice issued March 8, 2023; previously reported on Form 8-K.
Proceeds from sale not yet earmarked; company cites forward-looking risks.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.95

URBAN ONE, INC. completed a disposition involving MGM National Harbor, LLC for approximately $136.8 million (closed 2023-04-21).

Action: disposition
Counterparty: MGM National Harbor, LLC
Consideration: approximately $136.8 million
Closing: 2023-04-21

Exact text from the filing

to MGMNH. The sale was pursuant to the Put Notice issued March 8, 2023, and reported on March 10, 2023, on a Current Report on Form 8-K. The Company received approximately $136.8 million at the time of settlement of the Put Interest, representing the put price. During the quarter ended March 31, 2023, the Company received $8.7 million representing the Company’s

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URBAN ONE, INC. filing history →

Source: SEC EDGAR

accession 0001558370-23-006861

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